CompoSecure Beats Earnings Expectations in Q1 2024

Revenue Soars by 91%

CompoSecure, a leading provider of security solutions for payments and identification, announced impressive financial results for the first quarter (Q1) of 2024. The company's revenue surged by a remarkable 91% year-over-year, reaching $104.0 million.

Strong Growth Across All Segments

CompoSecure's growth was driven by strong performance across all business segments. Revenue from its flagship Metalix product line, which provides advanced RFID tags and labels, jumped by 97%. The Healthcare and Life Sciences division also saw significant growth, with revenue increasing by 86%.

Earnings per Share Exceeds Estimates

In addition to the revenue beat, CompoSecure also exceeded analyst expectations for earnings per share (EPS). The company reported an EPS of $0.14, surpassing the consensus estimate of $0.12.

Conference Call Scheduled

CompoSecure will host a conference call to discuss its Q1 2024 results on August 7, 2024. Investors and analysts are encouraged to dial in for updates on the company's strategic initiatives and financial outlook.

Disclaimer

The information contained in this news lead is based on the earnings report issued by CompoSecure Inc. on March 06, 2024. The author has taken reasonable care to ensure the accuracy and completeness of the information, but does not assume any liability for errors or omissions.